Smilo - The world's first decentralized hybrid blockchain platform

Yousuf Atik

In 2013, the well-known programmer Vitalik Buterin offered the world a new product - a public open source platform based on Blockchain technology, which allows us to enter into agreements and exchange data. After Ethereum was launched, a huge number of platforms based on distributed registry technology were released, but all of them were either public, allowing everyone to access information about transactions, or closed, in which only the parties to the agreement could access the agreement data. Over the entire existence of the Blockchain technology, not a single hybrid platform has been created that allows the use of both the first and the second type of smart contracts.

The lack of hybrid platforms prevented the introduction of Blockchain technology in such areas as:

Medical;
Social funding;
Insurance industry;
Product tracking area.

To change this situation will allow the launch of a new hybrid platform based on Blockchain technology, which simultaneously provides both transparency and protection of personal data, called Smilo.

Objective of the project

The main goal of Smilo platform developers is to create a decentralized full-featured platform based on Blockchain technology that supports hybrid transactions, hybrid smart contracts, as well as hybrid decentralized applications. In addition, the developers intend to ensure the complete confidentiality of personal data of ordinary users and to create conditions for maximum transparency when concluding government agreements.

Principle of operation

The Smilo platform will be the first platform in the world, combining several functions simultaneously, which include:

Hybrid smart contracts;
Hybrid transactions;
Hybrid decentralized applications;
User privacy;
Transparency of operations;
Connect to applications in real time.

The first and most significant feature of this platform are hybrid smart contracts that allow you to simultaneously monitor the movement of funds while maintaining the anonymity of the individual. One of the uses of such contracts is charity. Thus, a person or company who donated their own funds to charity will be able to track the movement of funds and the expenditure of this amount on certain needs, while maintaining complete anonymity. One of these organizations that can use hybrid smart contracts will be Greenpeace.

The second feature of Smilo is decentralized hybrid applications. This software includes messengers that can be used both by individuals who want to hide information from their correspondence and by public companies and government agencies that want to communicate openly in order to eliminate the possibility of data distortion by media workers.

Another feature is the ability of the user to independently choose whether his operation will be public or closed. Moreover, each of the participants of this platform will be able to set the appropriate options for smart contracts and decentralized applications and transactions.

To increase the popularity and development of Smilo, this platform intends to use the most popular areas, such as:

The medical sector, in which all medical records and medical data should be closed to outside personalities and open to employees of medical institutions;
The social financing sector, namely charitable foundations;
The area of product supply in order to track goods and their origin;
Insurance field.

Two types of tokens will be used on the platform - Smilo and SmiloPay. However, the main tokens will be the first, since they will affect the network itself and will generate SmiloPay coins. The latter will be used to pay the transaction fee.

Smilo coins will be available during the ICO.

ICO Dates & Details

In the framework of public and private sales, namely, in the period from November 2018 to February 2019, 84 million tokens will be sold. The cost of the 1st Smilo will be $ 0.25.

Softcap project - 2.5 million dollars, hardcap - 18 million dollars.

The distribution of tokens is as follows

Conclusion

Creating the world's first hybrid decentralized Blockchain platform can be very successful due to the fact that it allows users to choose which of the operations will be public and which will be closed. Thanks to this, users no longer need to use several different platforms to perform various kinds of operations.

By combining the two types of Blockchain, this platform will gain a huge audience who want to use a convenient and simple system. In this regard, investing in the platform today, you can get a considerable income in the near future.